WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that inflation, as measured by the consumer price index (CPI) on all items, increased by 2.3% for the 12 months ending in April, a decline from 2.4% in March.
April’s inflation was the smallest 12-month increase since Feb 2021. Energy prices fell 3.8% and Gasoline fell by 11.8%.
Core inflation, which excludes volatile energy and food prices, rose at a pace of 2.8% in April from a year prior, in line with the March rate of 2.8%. Housing inflation (shelter) increased by 4.0%, and food prices grew by 2.6% over the past 12 months, up slightly from 2.5% in January. Real average weekly wages increased by 1.7%.
Carrie Sheffield, senior policy analyst for the Center for Economic Opportunity at Independent Women, issued the following statement:
“Inflation easing slightly is a positive sign for our economy, but there is still much work to be done.
“Despite the onslaught of leftist ideologues hammering President Trump’s tariff negotiations, inflation continues to decline. This is in part due to the Trump Administration’s continued, historic deregulation efforts across all sectors (though especially in energy) that free up businesses to innovate and compete.
“Just this week, the U.S. Department of Energy began the largest deregulatory effort in history, proposing the elimination or reduction of major regulations that are driving up costs and lowering the quality of life. Once finalized, these actions are estimated to save the American people an estimated $11 billion and cut more than 125,000 words from the Code of Federal Regulations.
“As agency heads work with the Department of Government Efficiency to root out waste, fraud, and abuse, they should not be halted by a needless government shutdown. An overwhelming 75% of Americans support the Trump deregulatory, cost-cutting agenda. This agenda will continue to lower prices for Americans.
“Additionally, President Trump and Members of Congress are also working to pass renewed tax reforms that will improve wage growth and ensure families keep more of their hard-earned money.
“We look forward to seeing these efforts bear fruit and continue to ease inflation for American families in the months ahead.”
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Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended but actually enhance people’s freedom, choices, and opportunities.
Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.